Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

Note 21. Segment Information

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by the Chief Executive Officer, who is also the Company’s Chief Operating Decision Maker, for making decisions about the allocation of resources and assessing performance as the source of the Company’s reportable operating segments.

The Company is a leading provider of engineered lifting solutions and equipment rentals. The Company operates in two business segments: the Lifting Equipment segment and the Rental Equipment segment.

Lifting Equipment Segment

The Lifting Equipment segment is a leading provider of engineered lifting solutions. The Company manufactures a comprehensive line of boom trucks, articulating cranes, truck cranes and sign cranes. The Company is also a manufacturer of specialized rough terrain cranes and material handling products. Through PM and Valla, two of the Company's Italian subsidiaries, the Company manufacturers truck- mounted hydraulic knuckle boom cranes and a full range of precision pick and carry industrial cranes using electric, diesel and hybrid power options.

Rental Equipment Segment

Through its recently acquired Rabern subsidiary, the Company’s Rental Equipment segment rents heavy duty and light duty commercial construction equipment, mainly to commercial contractors on a short-term rental basis. The Company also rents equipment to homeowners for do-it-yourself projects.

The following is financial information for our two operating segments: Lifting Equipment and Rental Equipment:

	As of December 31,
	2022		2021
Net revenues
Lifting Equipment	$	252,652	$	211,539
Rental Equipment		21,202		—
	$	273,854	$	211,539
Operating income (loss)
Lifting Equipment	$	1,191	$	(4,422	)
Rental Equipment		3,186		—
Total operating income (loss)	$	4,377	$	(4,422	)
Depreciation
Lifting Equipment	$	1,731	$	2,061
Rental Equipment		4,818		—
Total depreciation	$	6,549	$	2,061
Amortization
Lifting Equipment	$	2,605	$	2,282
Rental Equipment		261		—
Total amortization	$	2,866	$	2,282
Capital expenditures
Lifting Equipment	$	1,484	$	247
Rental Equipment		14,605		—
Total capital expenditures	$	16,089	$	247

	Twelve Months Ended December, 2022						Twelve Months Ended December, 2021
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Net sales by country
United States	$	120,507	$	21,202	$	141,709	$	77,881	$	—	$	77,881
Italy		36,345		—		36,345		36,876		—		36,876
Canada		21,956		—		21,956		20,827		—		20,827
Chile		11,872		—		11,872		12,232		—		12,232
France		10,404		—		10,404		10,359		—		10,359
Other		51,568		—		51,568		53,364		—		53,364
Total	$	252,652	$	21,202	$	273,854	$	211,539	$	—	$	211,539